Rivian (RIVN) Q3 2026 Earnings Call Transcript

Rivian’s Q3 2026 results showed revenue rising to $2.155 billion, up 38%, driven by a record 19,248 deliveries and a 45% jump in software and services revenue. Software and services reached $605 million, with $354 million coming from the Volkswagen joint venture, which accounted for 59% of that segment. Despite gains, adjusted EBITDA was a $(435) million loss, improving from a $602 million loss last year as per-unit margins and regulatory credit revenue improved. The company reported $81 million in regulatory credits. Rivian narrowed delivery guidance to 67,000–70,000 units and guided 2026 adjusted EBITDA to a $(1.85) to $(1.75) billion range.